YOUR Token for the Sharing Economy

hatu (76)in #ethereum • 6 years ago (edited)

ICOs are surging in volume.

It’s undeniable that one of the most popular utilities of the blockchain has been to crowdfund via ICOs. Initial coin offerings have been spectacularly successful and have provided anyone the opportunity to pursue untapped innovative solutions for societal advancement.

Despite the popularity of ICOs, this form of fund-raising is still a very recent activity. This hasn’t stopped ICOs from bringing in massive sums of capital.

In fact, some ICOs are able to raise more money than some of today’s most successful companies had raised through their IPO. Netflix, for example, raised approximately $80M in 2002, a sum that has been surpassed by a number of well-known ICOs. However, Netflix issued shares and its investors knew exactly what they were getting: stake in the company. ICOs, on the other hand, are a more complex offering.

The Value Dilemma

The vast portion of ICOs do not issue security tokens, and this means they must come up with some form of utility for what they have issued to investors.

This is a largely unpaved territory and there is no “best” approach to this and there’s plenty of freedom alotted to project founders as to how they intend to create value for investors, but there's a heightening sum of money at stake. A new blockchain project named UChain, however, might be on the optimal track.

The best way to create value for token holders is to offer a utility overload. The ecosystems that the tokens are native to must be dysfunctional without the issued token; this is how a project can assure that a token issued to investors is valuable.

UChain’s Approach

UChain is a new blockchain designed to create optimized sharing economies. It provides an ecosystem in which enterprises, developers, and users can coexist without relying on any intermediaries to connect them.

When it comes to creating a valuable token, UChain has decided to sit upon the shoulders of giants that have preceded it. UCN tokens comprise of a menu of purposes within the UChain-integrated systems.

First and foremost, UChain adopts a concept that has long been a feature granted to share holders: voting rights. UCN tokens can be staked to receive UCP tokens and the holders of UCP tokens are awarded voting rights.
UChain is a blockchain and thus it serves as the foundation for future developments. Sharing economies are expected to grow in demand and UChain provides the foundation for cost-effective and secure economies. As this blockchain can be used to provide applications that serve the sharing economy, UCN Tokens will gain the native utility of being the currency of the sharing economy.
Transactional value of the UCN tokens will stem beyond just payments within applications. These can be used to acquire assets, from the enterprises in the ecosystem, to start a new shared service. UCN can also be used for the payments of acquiring API permissions.
UCN also serve as the currency for miscellaneous tasks within the UChain ecosystem, like advertising and fulfillment of system fees.

A thorough set of utilities for a token are important to ensure investors are issued a desirable asset. To be able to provide such a menu of utilities to the UCN, UChain must be able to successfully build a large ecosystem that encompasses the sharing economy.

This is an ambitious task but the fact that UChain’s founder is also the founder and CEO of U-bicycle, UChain will be able access an immediate userbase, thereby making its ascent less challenging.